FX.co - GBP/USD approaching resistance, potential drop!

2019-08-21T09:19:41

Long-term review

GBPUSD is approaching our first resistance where we might be seeing a drop below this level.

Entry: 1.2205

Why it's good : Horizontal swing high resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.2254

Why it's good : Horizontal swing high resistance

Take Profit : 1.2079

Why it's good: Horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension

GBP/USD approaching resistance, potential drop!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ GBP/USD approaching resistance, potential drop!